ServiceNow Shares Are Up Today: What’s Going On? – ServiceNow (NYSE:NOW)

ServiceNow, Inc. NOW shares are on watch ahead of the company’s fourth-quarter earnings report scheduled for Jan.29 2025, after market close.

What To Know: The company’s guidance for the fourth quarter of the fiscal-year 2024 reflects 21.5% year-over-year growth in current remaining performance obligations (cRPO) on a constant currency basis, aligning with projected subscription revenue growth.

Although foreign exchange headwinds are expected to weigh on reported results, particularly due to the strength of the U.S. Dollar against the Euro and Pound, these challenges appear to have been accounted for in client models. Analyst Mike Cikos from Needham anticipates potential upside of 150-200 basis points in cRPO and subscription revenue growth, citing consistent execution, the ongoing Pro Plus upgrade cycle and improved spending trends entering 2025. Early renewals may also contribute additional unrecognized gains.

Additionally, the acquisition of Cuein is expected to bolster the platform’s AI-native capabilities, enabling dynamic insights from customer interactions.

Price Action: ServiceNow shares were up 86% at $1,134.62 at the time of writing, according to Benzinga pro.

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Overview Rating:

Speculative

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ServiceNow (NYSE:NOW) has seen a surge in its stock price today, with shares up by X%. So, what’s driving this increase in value?

One possible reason for the rise in ServiceNow’s stock price could be the company’s strong financial performance in recent quarters. ServiceNow has consistently delivered impressive revenue growth and profitability, which may be attracting investors looking for stable and reliable returns.

Additionally, ServiceNow has been expanding its product offerings and customer base, which could be boosting investor confidence in the company’s long-term growth prospects. The company’s cloud-based platform for IT service management and other business processes has been well-received by customers, leading to increased adoption and revenue.

Furthermore, there may be broader market trends at play that are influencing ServiceNow’s stock price. The technology sector as a whole has been performing well, with many companies benefiting from increased demand for digital solutions in the wake of the COVID-19 pandemic.

Overall, it’s clear that investors are bullish on ServiceNow’s prospects, leading to the uptick in its stock price today. As always, investors should conduct their own research and consider their own risk tolerance before making any investment decisions.

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